The Cambodia Fintech Association (CFA) announced its official launch on Wednesday. The organization revealed it is focused on the country’s fintech community, which are fintech startups, accelerators and VCs. According to its website, the CFA is on a mission to become the national, not-for-profit organization to run for the benefit of its fintech members across all corners of Cambodia.
“We aspire to build Cambodia into the leading Indochine country for Fintech Innovation and Investment in the region. We target to achieve this by collaborating with stakeholders to create the best possible regulatory environment, and by fostering an ecosystem of supportive partners and networks so Fintech companies can thrive and grow in Cambodia.”
Cambodia Fintech Association also reported it undertakes four major streams of work on behalf of its members, which are the following:
- Champion: Advise government and regulators on policy change that supports Fintech innovation and growth
- Assist: Provide research, legal/regulatory help, service provider discounts and other benefits that help our members build and scale their Startups
- Match: Get customers to buy, investors to invest, and talent to get involved in Fintech solutions
- Bridging: Connect ventures (capital), talents (education) and other stakeholders within the Cambodia Fintech ecosystem and provide connections to overseas hubs through our network Events and Partners
According to the Phnom Penh Post, CFA Vice President, Eddie Lee, stated that Cambodia is currently progressing in its fintech, but startups are slowly starting to surface in the country. Lee also explained that CFA has also signed a Memorandum of Understanding with the Taiwan Fintech Association, Thailand Fintech Association and Singapore Fintech Association to establish bridges with similar groups in the region. He added that the next step is to register the CFA with the Asian Fintech Network